Hanging on to handbags with high values
IF YOU ask any auctioneer of upmarket goods what is in short supply, the answer is likely to be “handbags”.
Designer bags by the likes of Birkin, Chanel, Vuitton, Prada and Dior seldom come under the hammer because owners are reluctant to part with them, and they are often handed down through generations.
If you were lucky to acquire such a collectable investment item, it would need a lot of TLC, says Christie’s handbag specialist, Rachel Koffsky.
She provides tips for maximising the value of your bag:
1 Keep a paper trail of all purchase documentation. Exotic handbags require permits for international shipping, and authenticity cards and certificates can be required for the repair of certain brands. Insurance appraisals may require invoices for proper valuation.
2 Put the bag in storage. Proper storage is crucial to maintaining resale value. Condition is key.
3 Exotic handbags and rain don’t mix. Exotics may appear durable but are susceptible to water damage. Rain speckles on a recious Porosus crocodile-skin bag will cause permanent damage.
4 Pens and lipstick are your bag’s enemies. The condition of a handbag’s interior is also important – even light pen or lipstick marks can reduce resale value.
5 Moisturise. Moisturising leather will protect against cracks and permanent damage.
6 Rotate. Using each bag in your collection on a rotation basis will ensure a longer life for all.
7 Buy from trusted outlets. Be wary of “toogood-to-be-true” bargains, and consult an expert if you think a deal is suspiciously good.
8 Resale value. Think about a bag’s resale value, even if you never plan to sell. If your handbag is valuable on the secondary market, it is also more likely to be valuable to your heirs.
9 Think “quality” when collecting. Handmade always rules. Assembly line construction cannot match the quality of an item made in an atelier.
10 Show it off. Your handbag should reflect your style and personality.
So, providing your walks of life are safe, do some boastful strutting with your heavenly handbag.